Busy Busy


I've been working on a post on lower-quality jobs and the possibility of a declining standard of living in the U.S. It's pretty scary, and so I'm procrastinating on it a bit. Anyway, on to another pet topic of mine, the housing bubble. Over at Crooked Timber, there were a few discussions of the "Efficient Market Hypothesis" which says roughly that at any time a free market will determine the best price for some item utilizing all information. Brad Delong already has links to all three of them. Those of us who feel that information isn't always available due to asymetrical control of information flow know better. Bubbles form due to asymetric information and market psychology.

Anyway, here are two articles on the housing bubble from the New York Times. I think there is definately a bubble in the DC area. When my dinky little townhouse has more than doubled in value in 4 years, there's something very odd in the market.


The New York Times > Week in Review > The Perils of Predicting Financial Bubbles

The New York Times > Business > Your Money > GRETCHEN MORGENSON: Housing Bust: It Won't Be Pretty

Popular posts from this blog

Sometimes headlines just write themselves Like this one from the Washington Post today: Ex-FEMA Head Starts Disaster Planning Firm Michael Brown certainly has shown he can plan a disaster. Look at how awful Hurricane Katrina was. For preventing or fixing things afterwards, he's not so good.
Read more
Out of town I was in Denver last week. I've not had time to get up to speed on the latest Karl Rove revelations, or the latest Supreme Court news. Hopefully soon. Of late I've spent a lot of time listening to RTE News from the Irish Republic. It's escapism pure and simple. Local news isn't as important as U.S. foreign policy, or domestic policy when that causes espionage and treason, but sometimes I just cannot stand our news. Especially when we're talking about the president's senior political advisor blowing the cover of a CIA agent for political payback. Does anyone remember when Dick Morris was one of Bill Clinton's political advisors, and he was caught sucking the toes of a whore? Remember the outcry? And he wasn't even the deputy chief of staff? Like Bob Dole, I'm asking "Where is the outrage?" Anyway, since I was in Denver, and everyone on here who has been around for a while knows I like to eat, here are a few favorite pl
Read more
New to the blogroll This blogger is great, even if just for the Friday Nudibranch Blogging. Get your minds out of the gutter and check out the sea slug! Bouphonia: Friday Nudibranch Blogging
Read more